STX lays keel of offshore pipe layer [Offshore]
South Korea’s STX Group embarked on its first offshore plant construction. STX said it has recently held a keel laying ceremony of an offshore pipe layer at its Chinese subsidiary STX Dalian Shipbuilding Complex. The pipe laying vessel had be...
2009-08-27 11:58:03
Keppel upbeat on Brazil rigs [Offshore]
Keppel and Sembcorp Marine may gain from demand for deepwater drilling rigs from Brazil, contrary to investor expectations, Citigroup said. The US bank raised Keppel’s target price by 20% to S$9.15 from S$7.60 after increasing the earnings per s...
2009-08-27 07:25:47
Red ahead for Frontline [Finance]
Frontline will remain in the black for the second quarter but it is expected to sink into the red in the following quarter, says Nordea. The John Fredriksen-led tanker giant will also cut its dividend payments when its second quarter figures are p...
2009-08-27 07:22:10
Zim cash injection faces rough going [Finance]
Israel Corp boss Nir Gilad has called for government funding for its containership subsidiary Zim after a crucial investment package was rejected by regulators and shareholders. Israel Corp’s planned $100m cash injection was recently blocked in ...
2009-08-27 07:19:00
Mitsui kicks off new engine parts plant [Equipment]
Mitsui Engineering & Shipbuilding (MES) of Japan will kick off operation at its plant, which was expanded for the production of fuel valves and fuel pumps for use in marine diesel engines, in November this year. Following the assembly plant that was ...
2009-08-27 07:15:27
Qatar LNG train brings back idle fleet [Offshore]
19 LNG carriers have left export terminals in Qatar in the past week, as the Exxon Mobil and Qatar Petroleum joint venture is poised to begin shipments from Rasgastrain number six. Although it will be a while before production reaches capacity of ...
2009-08-27 07:13:08
Gazprom profits hit by lower gas sales [Offshore]
Russian gas major Gazprom reported a 61% decline in profit to $3.5bn in the first quarter of 2009, attributing the fall to lower gas sales in Russia and in Europe. Gazprom, the world’s largest gas company, nevertheless beat analyst forecasts by ...
2009-08-27 07:10:40
Handy hunger boosts secondhand sales [General]
At least 25% more secondhand bulk carriers have been sold so far this year than in the whole of 2008, according to Clarkson Research Services. “We’ve got 434 sales in the year to date, which is up on last year,” managing director Martin Sto...
2009-08-27 07:08:53
Pipavav launches IPO in Sept [Finance]
The initial public offering of India's Pipavav Shipyard is likely to open for subscription either Sept. 16 or Sept. 17. The company wants to launch the IPO before regulatory approval, received in September last year, expires on Sept. 17. "The f...
2009-08-27 07:06:50
Imabari, NSC develop safety bow [Equipment]
Imabari Shipbuilding and Nippon Steel Corp. (NSC) announced on August 25th that they have developed a new ship bow shape that can reduce the compression pressure toward other ships in collision by as much as half of the usual pressure. They develo...
2009-08-27 07:04:09
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